The SBTi Corporate Net-Zero Standard revision expanded to refine approach to neutralization

The SBTi’s Corporate Net-Zero Standard provides the guidance and tools companies need to set science-based net-zero targets. Version 1 of the Standard was first published in 2021. It states that once companies have achieved their long-term emission reduction target, they must neutralize any residual emissions through permanent removal and storage of CO2 from the atmosphere.

The SBTi is currently revising this flagship Standard and has today released an updated project terms of reference with minor adjustments, including the intention to refine the approach to neutralization. The SBTi intends to clarify the near-term actions companies can take towards the long-term outcome of counterbalancing the impact of scientifically-defined residual emissions.

The SBTi is hosting two workshops to inform this work, including next week at Climate Week NYC and in October in London.

The workshops will inform the SBTi’s research on neutralization and the role of carbon dioxide removal and storage as companies work towards their net-zero target date. This is an early step in the review of the Corporate Net-Zero Standard.

The insights gathered at the workshops will be considered for an SBTi research paper that will support the revision of the Standard. The draft Net-Zero Standard will be released for public consultation and feedback in the coming months. The standard remains unchanged until the process is complete.